• Novartis AG average return on tangible equity for 2023 was -217.51, a 214.46% decline from 2022.
• Novartis AG average return on tangible equity for 2022 was 190.03, a 229.26% decline from 2021.
• Novartis AG average return on tangible equity for 2021 was -147.01, a 26.07% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.